What's the prescribed period of issue of invoice of service
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Quick Summary
This discussion clarifies the deadlines for issuing tax invoices for services in the UK. Generally, invoices must be issued within 30 days of the service supply. However, insurers, banking companies, and financial institutions have an extended period of 45 days. Specific rules for advance payments and reverse charge mechanism (RCM) services are also covered, referencing sections 13(1), 13(2), and 13(3).
In the case supply of services, Invoice shall be issued within a period of 30 days from the date of the supply of service:
Provided that where the supplier of services is an insurer or a banking company or a financial institution, including a NBFC, the period within which the invoice or any document in lieu thereof is to be issued shall be 45 days from the date of the supply of service.
For this read section 13(1) for normal services section 13(2 )for payment of service where payment is not decided or where things aren't known 13(3) for rcm covered services
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